SID Director Competency Model


The SID Director Competency model comprises of eight essential domains of knowledge within which directors are encouraged to build their competencies. These domains provide a well-rounded framework for effective directorship in today’s dynamic business environment.

Competency domains:

(a) Governance.
(b) Director duties and practices.
(c) Financial proficiency.
(d) Risk management.
(e) Strategy development.
(f) Digital proficiency.
(g) Human capital.
(h) Sustainability fundamentals.

 

Competency
 Definitions
Governance
 The ability to effect appropriate governance structures and corporate culture to guide and progress the business affairs of the company in a manner that enhances long-term shareholder value, whilst taking into account the interests of other stakeholders.
Duties & Practices
 The understanding of what the role and duties of a board director entails. The ability to adopt board practices that will lead to a credible, and efficient Board and a constructive relationship with Management.
Financial
 The ability to review financial statements, question accounting treatments, establish internal controls and ensure financial statements and accounting standards are in accordance with ACRA requirements.
Risk
 The ability to assess, manage and mitigate risks an organisation faces as part of its business, financial, legal, strategic, human and digital activities. This includes the appropriate risk tolerance to minimise liability and safeguard the long-term success of the organisation.
Strategy
 The ability to participate in the development of the company’s strategic plan, identify business options and consider the best strategy to achieve organisational goals.
Digital
 The ability to provide direction and advice on how digital technology can enable business strategy, oversight for financial investment into digital assets, and governance for high risk investments that are integrated with business strategy and financial management practices.
Human Capital
 The ability to enhance human capital and workplace issues such as diversity, culture, performance, employee engagement and talent, that support business strategy and impact corporate culture.
Sustainability   
The ability to define structures, policies and processes necessary for a company to manage sustainability response to potential financial risks and opportunities.


SID supports directors at every stage of their directorship journey through professional development programmes that build competencies across these eight key domains.

The SID Director Accreditation Programme is also built upon the SID Director Competency Model, ensuring a strong foundation for directors across all organisation types – listed entities, statutory boards, private companies and nonprofit organisations (inclusive of Charities and  Institutions of a Public Character (IPCs).

All SID members who wish to be accredited must demonstrate their expertise in these competencies by undergoing training and passing the SID Accreditation Exam or fulfilling the requirements via SID Qualification Pathway. 

Directors can begin with foundational training through SID programmes such as: